KSS Marine, a subsidiary of KSS Line, announced on the 23rd that it signed a memorandum of understanding (MOU) with Singapore-based MarinaChain to expand its eco-friendly vessel business using blockchain technology. Headquartered in Busan, KSS Marine is expanding its business scope from ship management to maritime digital commercialization. MarinaChain is a blockchain-based vessel big data company that receives vessel operation data to analyze carbon emissions and provide corresponding solutions.

Data recorded with blockchain technology is immutable, highly reliable, and virtually unhackable. By introducing the concept of data copyright to vessel information, the company provides data with exceptional stability and security that cannot be leaked without the shipowner's consent. Any utilization of data, including analysis services, is possible only with the shipowner's approval, creating a structure where shipowners, as the actual data providers, continuously benefit.

MarinaChain offers carbon emission analysis and vessel eco-friendliness assessment services through partnerships with shipping lines. Starting with shipowners in Singapore, Hong Kong, and Indonesia, the company signed its first agreement in Korea with KSS Marine.

An official from KSS Line stated, "Both companies agree on the vision that the most eco-friendly choice will become the most economical choice in the future," adding, "Responding quickly to vessel decarbonization and taking appropriate measures is the way to secure competitiveness in the global market."

Source : https://www.naeil.com/news/read/415167